JohnKell

Many U.S. retail and restaurant companies have said harsh winter weather and aggressive discounts led to fewer store visits and lower sales for the latest holiday season. And in 2014, many have lamented that severe weather in many parts of the U.S. are still hurting sales.

Levi reported gross margin narrowed to 49.2% from 50% a year ago, hurt by an increase in promotions and markdowns. The decline ended a year-long streak of growth that was driven by easing cotton costs.

For the quarter ended Nov. 24, Levi posted a profit of $17 million, down from $53 million a year earlier. Revenue inched 0.2% lower to about $1.3 billion.

In the Americas, where Levi does most of its business, sales jumped 1.2%. Sales fell 5.1% in Europe but were up 1.1% in the Asia Pacific region.

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